Mattern Wealth Management LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Mattern Wealth Management LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,865 shares of the company’s stock after selling 454 shares during the period. Mattern Wealth Management LLC’s holdings in PepsiCo were worth $827,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC raised its position in shares of PepsiCo by 3.6% in the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the last quarter. Norden Group LLC raised its holdings in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after acquiring an additional 174,171 shares during the last quarter. M&G Plc lifted its stake in shares of PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after purchasing an additional 14,724 shares during the period. OLD Second National Bank of Aurora grew its position in shares of PepsiCo by 32.7% in the first quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock valued at $4,079,000 after purchasing an additional 5,737 shares during the period. Finally, Koss Olinger Consulting LLC increased its stake in PepsiCo by 1,320.5% in the first quarter. Koss Olinger Consulting LLC now owns 33,425 shares of the company’s stock valued at $5,850,000 after purchasing an additional 31,072 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PEP. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Down 0.6 %

Shares of PEP stock traded down $1.06 on Tuesday, hitting $173.95. The stock had a trading volume of 968,368 shares, compared to its average volume of 5,475,149. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The firm has a market capitalization of $239.14 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 3.28 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock’s 50 day moving average is $173.86 and its 200-day moving average is $172.19.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $2.25 earnings per share. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.